Following extensive growth in recent years of online banking services and online payments, consumers face a new variety of challenges, such as how to optimise management offunds, incomes and expenses, mortgages and other banking and payments services provided on-line by different online providers.

We think of chargebacks as being a modern inconvenience and a feature of commercial dealings. Yet, documents dating as far back as 1800 BCE show that the concept was already in existence in ancient times. To avoid being accused of theft – an offence punishable by death back then – sellers and buyers demanded and carefully preserved receipts and title deeds. If it was proven that the goods (even those purchased in a legitimate sale) were stolen, the buyer had an obligation to return them to the original owner, but also had a right to charge back the seller.

In a world where technology is developing faster than legislators can handle, are we getting carried away with accepting new technology products before stopping to consider their legal effects? While security and consumer protection are indeed highly-debated issues in e-commerce, does anyone really have time to print out an agreement or a form, sign, scan, and return to sender?

On February 2, 2016, the much-anticipated agreement between the EU Commission and the U.S. outlining the framework for the transfer of personal data was finalized. Following the invalidation of the Safe Harbour rules by the European Court of Justice (ECJ) on October 6, 2015, the Commission issued a new guidance on November 6, 2015. Continue Reading

Now that the revised Payment Services Directive (PSD2) has been finalized, issues of transposition will come to the fore. This is because the PSD2 is expected to enter into force in January 2016 and to apply from January 2018.Continue Reading

The MasterCard MCDS conference took place November 4-6. The conference covered quite a few payments topics and trends. It was a great opportunity to meet with colleagues and get an up-to-date picture of where we are headed as an industry.Continue Reading

Previously a licensed financial institution, Credorax has now officially evolved into a commercial bank in Europe. Having recently received our commercial banking license from the Malta Financial Services Authority (MFSA), we have become one of the first fintech companies in the world to grow into a pan-European bank.Continue Reading

In the payment services and e-commerce arena, EU regulators are striving to keep up with the rapid pace at which technology is advancing in order to properly regulate the various technologies currently in use and to ensure that consumers are protected.

On October 8, 2015, the proposed PSD II was formally approved by the European Parliament (EP) by 578 votes to 29, with 52 abstentions. Following the EP’s approval, now the proposed PSD II has reached the final stage where it is up to the Council of the EU to formally adopt the text and have it published in the official EU languages.Continue Reading

Welcome to Smart Acquiring
Credorax is an entirely new breed of acquirer focused specifically on the ecommerce arena. That means that we've developed all of our payment processing services with you, the online merchant, in mind!

This website uses cookies to improve service and provide more personalized services.By using this site, you agree to this use. You can change your cookie settings at any time.Further information on the purpose and use of the cookies used and how to remove them can be found in our Privacy Policy.OK